- 11 U.S.C.
In re Chicago Invs. LLC
Apr
24
2012
Ruling
Debtor franchisee's plan confirmed over objection of franchisor whose right of first refusal on transfers of interest in business was not binding.
Procedural posture
Bankruptcy debtors, franchisees of fitness centers, proposed a plan of reorganization which provided for continuing operation of the centers variously by the debtors or a designee of their major creditor under a settlement agreement between the debtors and the creditor, and the plan provided for payment of all creditors in full. The debtors' franchisor objected to confirmation of the debtors' plan.
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Court
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